Rupee opens sharply higher at 60.23 to the dollar

The rupee opened the day sharply higher at 60.23 against the dollar on strong global cues. The currency had closed at 60.38 on Friday, which means today's gains were 15 paise in early morning trade.

Global cues were strong and the Indian stock markets were also expected to open sharply higher.

The rupee is expected to now breach the 60 levels and may be back into the 59 levels once again. There has been a remarkably recovery in the rupee in the last one year from an historic low of 68.86 against the dollar to the current levels of Rs 60.23. Check currency rates here